IFC invests $103 million in L&T infrastructure finance

The International Finance Corporation (IFC) has invested $103 million in L&T Infrastructure Finance Company, a wholly owned subsidiary of L&T Finance Holdings, by subscribing to the green bonds issued by the latter. This is in line with IFC’s strategy to support the growth of renewable energy infrastructure in India. L&T Infrastructure Finance will use the funds generated to provide loans to solar power projects in India. This is the first green bond issue approved by the Securities and Exchange Board of India.